Will 2020 be better for British C.E.O.s?
According to a study from Korn Ferry amongst British retail executives, C.E.O. turnover has increased by 25% in the retail industry in 2019, reaching a 7-year high. A total of 55 C.E.O.s changes took place over the year, compared with 44 in 2018. The majority of changes were in the fashion and luxury categories. Meanwhile, 38% of these changes showed that the former C.E.O. was in the role for less than 3 years. In terms of background, financial profiles gained traction, with 21% of newly appointed C.E.O.s having a financial background. In comparison, retail C.E.O.s appointed from commercial or merchandising roles fell from 46% in 2018 to 34% in 2019. Those with a background in retail operations fell from 22% in 2018 to 13% in 2019. There was no increase of female representation at the top of any retail company, remaining at 23%.